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Simple English definitions for legal terms
interim statement
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A quick definition of interim statement:
An interim statement is a financial report that a company issues during the year, usually every quarter, to show how well it is doing. It tells shareholders and investors how the company is performing at that point in time. The Securities and Exchange Commission (SEC) requires companies to file an interim statement if it is distributed to shareholders. It is also called an interim report.
A more thorough explanation:
An interim statement is a financial report that a company issues during the fiscal year, usually on a quarterly basis, to show its current performance. The Securities and Exchange Commission (SEC) requires companies to file an interim statement if it is distributed to the company's shareholders. It is also known as an interim report.
Example 1: XYZ Corporation issues an interim statement for the second quarter of the fiscal year. The statement shows the company's revenue, expenses, and net income for the period from April to June.
Example 2: ABC Inc. is a publicly traded company that distributes its interim statement to its shareholders. The statement includes information about the company's financial performance for the first three months of the fiscal year.
These examples illustrate how companies use interim statements to provide shareholders with information about their financial performance during the fiscal year. The statements help investors make informed decisions about buying or selling the company's stock.